{"id":1521,"date":"2026-03-02T21:04:01","date_gmt":"2026-03-02T18:04:01","guid":{"rendered":"https:\/\/tabildot.com.tr\/marketrisk\/?p=1521"},"modified":"2026-03-02T21:23:11","modified_gmt":"2026-03-02T18:23:11","slug":"asels-bilanco-analizi-2025-12-aselsan-elektronik","status":"publish","type":"post","link":"https:\/\/tabildot.com.tr\/marketrisk\/1521","title":{"rendered":"\ud83c\uddf9\ud83c\uddf7 #ASELS Bilan\u00e7o Analizi 2025\/12 | Aselsan Elektronik"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/creators.spotify.com\/pod\/profile\/market-risk-tr\/embed\/episodes\/ASELS-Bilano-Analizi-202512--Aselsan-Elektronik-e3fr87c\/a-acglnhv\" height=\"102px\" width=\"400px\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<h1>ASELSAN 2025 Finansal Raporu: Bir Savunma Devinin K\u00fcresel Teknoloji G\u00fcc\u00fcne D\u00f6n\u00fc\u015f\u00fcm\u00fcn\u00fcn 4 Kritik \u0130\u015fareti<\/h1>\n<p><b>Giri\u015f: Rakamlar\u0131n \u00d6tesindeki Stratejik Kale<\/b><\/p>\n<p>Savunma sanayii, jeopolitik belirsizliklerin artt\u0131\u011f\u0131 k\u00fcresel konjonkt\u00fcrde sadece bir \u00fcretim alan\u0131 de\u011fil, bir \u00fclkenin teknolojik egemenli\u011finin ve operasyonel derinli\u011finin kalesidir. T\u00fcrkiye\u2019nin teknoloji amiral gemisi ASELSAN, 2025 y\u0131l\u0131 sonu itibar\u0131yla a\u00e7\u0131klad\u0131\u011f\u0131 konsolide finansal raporuyla bu kalenin ne kadar sars\u0131lmaz bir mali temel \u00fczerine in\u015fa edildi\u011fini kan\u0131tl\u0131yor. Toplam varl\u0131k de\u011ferini <b>431,59 milyar TL<\/b> seviyesine ula\u015ft\u0131ran \u015firket, T\u00fcrk Silahl\u0131 Kuvvetlerini G\u00fc\u00e7lendirme Vakf\u0131\u2019n\u0131n (TSKGV) %74,20\u2019lik stratejik ortakl\u0131\u011f\u0131yla sa\u011flanan istikrar\u0131, y\u00fcksek teknoloji odakl\u0131 bir b\u00fcy\u00fcme motoruna d\u00f6n\u00fc\u015ft\u00fcrm\u00fc\u015f durumda. Bu rapor, bilan\u00e7onun sadece muhasebe kay\u0131tlar\u0131ndan ibaret olmad\u0131\u011f\u0131n\u0131; aksine devasa bir Ar-Ge ekosisteminin finansal manifestosu oldu\u011funu g\u00f6steriyor.<\/p>\n<p><b>Gelece\u011fi Aktifle\u015ftirmek: 36,24 Milyar TL\u2019lik &#8220;Teknolojik M\u00fclkiyet&#8221;<\/b><\/p>\n<p>ASELSAN\u2019\u0131n bilan\u00e7osundaki en kritik veri seti, &#8220;Maddi Olmayan Duran Varl\u0131klar&#8221; kalemi alt\u0131nda gizlidir. 2024 y\u0131l\u0131nda 27,69 milyar TL olan aktifle\u015ftirilen geli\u015ftirme giderleri, 2025 sonu itibar\u0131yla <b>36,24 milyar TL<\/b> seviyesine y\u00fckselmi\u015ftir. Bir finansal analist g\u00f6z\u00fcyle bu rakam, geleneksel bir &#8220;harcama&#8221; de\u011fil, \u015firketin gelecekteki nakit ak\u0131\u015flar\u0131n\u0131 garanti alt\u0131na alan bir &#8220;teknolojik \u00f6deme g\u00fcc\u00fc&#8221; (technical solvency) g\u00f6stergesidir.<\/p>\n<p>\u015eirket, entelekt\u00fcel sermayesini bilan\u00e7osunda kal\u0131c\u0131 birer varl\u0131k olarak konumland\u0131rarak Ar-Ge\u2019yi s\u00fcrd\u00fcr\u00fclebilir bir de\u011fer \u00fcretimine d\u00f6n\u00fc\u015ft\u00fcrmektedir. \u015eirket bu \u00e7ok disiplinli teknoloji vizyonunu \u015fu \u015fekilde tan\u0131mlamaktad\u0131r:<\/p>\n<p>&#8220;Grup; kara, hava, deniz ve uzay uygulamalar\u0131 kapsam\u0131nda her nevi elektrik, elektronik, mikrodalga, elektro-optik, g\u00fcd\u00fcm, bilgisayar, bili\u015fim, kriptoloji, g\u00fcvenlik, mekanik kimya ve benzeri konularda \u00e7e\u015fitli yaz\u0131l\u0131m, cihaz, sistem, ara\u00e7, gere\u00e7 ve platformlar\u0131n ara\u015ft\u0131rma, geli\u015ftirme, m\u00fchendislik, \u00fcretim, test, montaj, entegrasyon ve sat\u0131\u015f\u0131n\u0131 yapmak amac\u0131yla faaliyet g\u00f6stermektedir.&#8221;<\/p>\n<p><b>K\u00fcresel Ayak \u0130zi ve Sekt\u00f6rel \u00c7e\u015fitlilik: Yerelden K\u00fcresele Operasyonel Derinlik<\/b><\/p>\n<p>ASELSAN\u2019\u0131n 2025 y\u0131l\u0131ndaki organizasyonel geni\u015flemesi, bir &#8220;yerel tedarik\u00e7i&#8221;den &#8220;k\u00fcresel teknoloji devi&#8221;ne d\u00f6n\u00fc\u015f\u00fcm\u00fcn en somut kan\u0131t\u0131d\u0131r. \u015eirket; Bak\u00fc, Malezya, Ukrayna, \u015eili (Latin Amerika), BAE ve Polonya gibi stratejik merkezlerdeki operasyonlar\u0131yla k\u00fcresel bir a\u011f y\u00f6netmektedir. 2025 y\u0131l\u0131, \u00f6zellikle Anadolu\u2019daki y\u00fcksek teknoloji yay\u0131l\u0131m\u0131 i\u00e7in bir milat olmu\u015f; askeri g\u00fc\u00e7 elektroni\u011fi oda\u011f\u0131nda <b>ASELSAN Malatya<\/b> ve elektromekanik teknolojiler alan\u0131nda <b>ASELSAN Gaziantep<\/b> ba\u011fl\u0131 ortakl\u0131klar\u0131 bu y\u0131l i\u00e7inde faaliyete ge\u00e7erek \u00fcretim ekosistemine dahil edilmi\u015ftir.<\/p>\n<p>Bu geni\u015fleme sadece co\u011frafi de\u011fil, ayn\u0131 zamanda sekt\u00f6rel bir derinli\u011fe sahiptir. \u015eirket yap\u0131s\u0131; HBT, MEOS, AGS, SST ve REH\u0130S gibi savunma odakl\u0131 birimlerin yan\u0131 s\u0131ra, \u00f6zellikle <b>Ula\u015f\u0131m, G\u00fcvenlik, Enerji, Otomasyon ve Sa\u011fl\u0131k Sistemleri (UGES)<\/b> Sekt\u00f6r Ba\u015fkanl\u0131\u011f\u0131 ile savunma d\u0131\u015f\u0131 alanlarda da kurumsalla\u015fm\u0131\u015f bir varl\u0131k sergilemektedir. Bu yap\u0131sal \u00e7e\u015fitlilik, savunma sanayiindeki uzmanl\u0131\u011f\u0131n sivil alanlara transfer edildi\u011fi hibrit bir dev do\u011furmaktad\u0131r.<\/p>\n<p><b>Be\u015feri Sermaye Derinli\u011fi: 14.143 Ki\u015filik Nitelikli M\u00fchendislik G\u00fcc\u00fc<\/b><\/p>\n<p>Y\u00fcksek teknoloji \u00fcretiminde kapasite art\u0131\u015f\u0131n\u0131n en temel \u00f6nc\u00fcs\u00fc \u00e7al\u0131\u015fan say\u0131s\u0131d\u0131r. ASELSAN\u2019\u0131n 2024 y\u0131l\u0131nda 12.014 olan ortalama \u00e7al\u0131\u015fan say\u0131s\u0131n\u0131n, 2025 sonu itibar\u0131yla <b>14.143<\/b> ki\u015fiye y\u00fckselmesi, %17,7\u2019lik agresif bir b\u00fcy\u00fcme ivmesine i\u015faret eder. Finansal analiz perspektifinden bu art\u0131\u015f, sadece personel gideri de\u011fil; \u015firketin yeni nesil projeleri, uydular\u0131 ve otonom sistemleri hayata ge\u00e7irecek &#8220;nitelikli be\u015feri sermaye derinli\u011fi&#8221;ne yapt\u0131\u011f\u0131 stratejik bir yat\u0131r\u0131md\u0131r. Bu uzman kadro, \u015firketin 180 milyar TL\u2019yi a\u015fan has\u0131lat \u00fcretim kapasitesinin arkas\u0131ndaki as\u0131l motor g\u00fc\u00e7t\u00fcr.<\/p>\n<p><b>Enflasyonist Ortamda Operasyonel Diren\u00e7: 29,95 Milyar TL Net Kar<\/b><\/p>\n<p>2025 y\u0131l\u0131 finansal sonu\u00e7lar\u0131, TMS 29 Enflasyon Muhasebesi standartlar\u0131na g\u00f6re realize edilmi\u015ftir. Bu zorlu muhasebe rejimi alt\u0131nda dahi ASELSAN, has\u0131lat\u0131n\u0131 <b>180,44 milyar TL<\/b> seviyesine \u00e7\u0131karm\u0131\u015f ve <b>29,95 milyar TL<\/b> net d\u00f6nem kar\u0131 elde etmi\u015ftir. Bu karl\u0131l\u0131kta 3,55 milyar TL\u2019lik finansman gelirlerinin katk\u0131s\u0131 olsa da as\u0131l ba\u015far\u0131, enflasyonist bask\u0131lara ra\u011fmen korunan operasyonel verimliliktir.<\/p>\n<p>\u015eirketin mali g\u00fcc\u00fcn\u00fcn en \u00e7arp\u0131c\u0131 g\u00f6stergesi ise \u00f6zkaynaklardaki b\u00fcy\u00fcmedir. 2024 y\u0131l\u0131nda 185,03 milyar TL olan \u00f6zkaynaklar, 2025 sonunda <b>251,79 milyar TL<\/b>\u2019ye ula\u015farak %36\u2019l\u0131k devasa bir s\u0131\u00e7rama yapm\u0131\u015ft\u0131r. Ayr\u0131ca, ASELSAN\u2019\u0131n <b>TSRS 1 ve TSRS 2<\/b> (T\u00fcrkiye S\u00fcrd\u00fcr\u00fclebilirlik Raporlama Standartlar\u0131) ile uyumlu raporlama s\u00fcrecine ge\u00e7mesi, \u015firketin k\u00fcresel yat\u0131r\u0131mc\u0131 standartlar\u0131na ve IFRS (S1\/S2) normlar\u0131na tam uyum sa\u011flad\u0131\u011f\u0131n\u0131 g\u00f6steren bir &#8220;k\u00fcresel olgunluk&#8221; belgesidir.<\/p>\n<p><b>Sonu\u00e7: 2026 ve \u00d6tesine Bak\u0131\u015f<\/b><\/p>\n<p>ASELSAN\u2019\u0131n 2025 raporu, finansal dayan\u0131kl\u0131l\u0131\u011f\u0131n teknolojik ba\u011f\u0131ms\u0131zl\u0131kla harmanland\u0131\u011f\u0131 bir ba\u015far\u0131 hikayesidir. 431,59 milyar TL\u2019lik varl\u0131k yap\u0131s\u0131 ve UGES gibi savunma d\u0131\u015f\u0131 sekt\u00f6rlerdeki kurumsal yap\u0131lanma, \u015firketin \u00f6n\u00fcm\u00fczdeki on y\u0131lda sadece bir silah \u00fcreticisi de\u011fil, \u00e7ok boyutlu bir teknoloji hub\u2019\u0131 olaca\u011f\u0131n\u0131 teyit etmektedir.<\/p>\n<p>\u015eu soruyu sorman\u0131n vaktidir: Teknolojik ba\u011f\u0131ms\u0131zl\u0131k rotas\u0131nda bu denli devasa bir Ar-Ge varl\u0131\u011f\u0131 ve TSRS standartlar\u0131ndaki k\u00fcresel \u015feffafl\u0131k, ASELSAN\u2019\u0131 \u00f6n\u00fcm\u00fczdeki on y\u0131lda b\u00f6lgemizin hem &#8220;Lockheed Martin&#8221;i hem de &#8220;Siemens&#8221;i haline getirebilir mi?<\/p>\n<h1>ASELSAN 2025 Y\u0131l\u0131 Konsolide Finansal Raporu: Stratejik ve Finansal De\u011ferlendirme<\/h1>\n<h2>Y\u00f6netici \u00d6zeti<\/h2>\n<p>Bu belge, ASELSAN Elektronik Sanayi ve Ticaret A.\u015e.&#8217;nin 31 Aral\u0131k 2025 tarihinde sona eren mali y\u0131la ait konsolide finansal sonu\u00e7lar\u0131n\u0131 ve ba\u011f\u0131ms\u0131z denet\u00e7i raporunu sentezlemektedir. 2025 y\u0131l\u0131, \u015firketin hem finansal b\u00fcy\u00fcmesini s\u00fcrd\u00fcrd\u00fc\u011f\u00fc hem de T\u00fcrkiye S\u00fcrd\u00fcr\u00fclebilirlik Raporlama Standartlar\u0131 (TSRS) ve enflasyon muhasebesi (TMS 29) gibi yeni raporlama standartlar\u0131na tam uyum sa\u011flad\u0131\u011f\u0131 bir y\u0131l olmu\u015ftur.<\/p>\n<p><b>Kritik \u00c7\u0131kar\u0131mlar:<\/b><\/p>\n<ul>\n<li><b>Net K\u00e2r Art\u0131\u015f\u0131:<\/b> \u015eirketin net d\u00f6nem k\u00e2r\u0131, 2024 y\u0131l\u0131ndaki 20 milyar TL seviyesinden %50&#8217;ye yak\u0131n bir art\u0131\u015fla 29,9 milyar TL&#8217;ye y\u00fckselmi\u015ftir.<\/li>\n<li><b>Varl\u0131k B\u00fcy\u00fckl\u00fc\u011f\u00fc:<\/b> Toplam varl\u0131klar 431,6 milyar TL&#8217;ye ula\u015farak \u015firketin operasyonel kapasitesindeki geni\u015flemeyi teyit etmi\u015ftir.<\/li>\n<li><b>Denetim G\u00f6r\u00fc\u015f\u00fc:<\/b> Ba\u011f\u0131ms\u0131z denet\u00e7i, finansal tablolar\u0131n TFRS&#8217;ye uygun olarak t\u00fcm \u00f6nemli y\u00f6nleriyle ger\u00e7e\u011fe uygun bir bi\u00e7imde sunuldu\u011funa dair &#8220;olumlu g\u00f6r\u00fc\u015f&#8221; bildirmi\u015ftir.<\/li>\n<li><b>Stratejik Yat\u0131r\u0131mlar:<\/b> Aktifle\u015ftirilen geli\u015ftirme giderleri 36,2 milyar TL net de\u011fere ula\u015farak \u015firketin teknoloji odakl\u0131 b\u00fcy\u00fcme stratejisinin merkezinde yer almaktad\u0131r.<\/li>\n<li><b>S\u00fcrd\u00fcr\u00fclebilirlik:<\/b> \u015eirket, TSRS 1 ve TSRS 2 standartlar\u0131 kapsam\u0131nda ilk zorunlu s\u00fcrd\u00fcr\u00fclebilirlik raporlamas\u0131n\u0131 ba\u015far\u0131yla ger\u00e7ekle\u015ftirmi\u015ftir.<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>1. Ba\u011f\u0131ms\u0131z Denetim ve Kilit Denetim Konular\u0131<\/h2>\n<p>Ba\u011f\u0131ms\u0131z denetim s\u00fcreci, Karar Ba\u011f\u0131ms\u0131z Denetim ve Dan\u0131\u015fmanl\u0131k A.\u015e. taraf\u0131ndan y\u00fcr\u00fct\u00fclm\u00fc\u015f ve 24 \u015eubat 2026 tarihinde tamamlanm\u0131\u015ft\u0131r. Denet\u00e7iler, profesyonel yarg\u0131lar\u0131na dayanarak finansal tablolar i\u00e7in en riskli g\u00f6rd\u00fckleri &#8220;Kilit Denetim Konular\u0131&#8221;n\u0131 iki ana ba\u015fl\u0131kta tan\u0131mlam\u0131\u015ft\u0131r:<\/p>\n<h3>M\u00fc\u015fteri S\u00f6zle\u015fmelerinden Has\u0131lat\u0131n Muhasebele\u015ftirilmesi (TFRS 15)<\/h3>\n<p>ASELSAN&#8217;\u0131n has\u0131lat\u0131n\u0131n b\u00fcy\u00fck bir k\u0131sm\u0131 zamana yay\u0131l\u0131 olarak (over time) muhasebele\u015ftirilmektedir.<\/p>\n<ul>\n<li><b>Neden \u00d6nemli:<\/b> Projelerin tamamlanma oranlar\u0131n\u0131n, b\u00fct\u00e7elenen toplam maliyetlerin ve tahmin edilen marjlar\u0131n belirlenmesi y\u00f6netim varsay\u0131mlar\u0131na dayanmaktad\u0131r.<\/li>\n<li><b>Denetim Prosed\u00fcrleri:<\/b> Se\u00e7ilen projelerde tamamlanma oranlar\u0131, ger\u00e7ekle\u015fen maliyetler ve teknik ilerleme raporlar\u0131 ile kar\u015f\u0131la\u015ft\u0131r\u0131lm\u0131\u015f; has\u0131lat hesaplamalar\u0131n\u0131n matematiksel do\u011frulu\u011fu test edilmi\u015ftir.<\/li>\n<\/ul>\n<h3>Aktifle\u015ftirilen Geli\u015ftirme Giderleri (TMS 38)<\/h3>\n<p>Grup taraf\u0131ndan y\u00fcr\u00fct\u00fclen ve y\u00f6netimce onaylanan projelere ili\u015fkin geli\u015ftirme safhas\u0131 harcamalar\u0131 duran varl\u0131k olarak kaydedilmektedir.<\/p>\n<ul>\n<li><b>Kriterler:<\/b> Bir harcaman\u0131n aktifle\u015ftirilmesi i\u00e7in projenin teknik tamamlanabilirli\u011fi, gelecekte ekonomik fayda sa\u011flama potansiyeli ve maliyetin g\u00fcvenilir \u00f6l\u00e7\u00fcm\u00fc \u015fartt\u0131r.<\/li>\n<li><b>Mevcut Durum:<\/b> 31 Aral\u0131k 2025 itibar\u0131yla 36.236.921 bin TL tutar\u0131nda geli\u015ftirme harcamas\u0131 maddi olmayan duran varl\u0131klar alt\u0131nda raporlanm\u0131\u015ft\u0131r.<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>2. Finansal Performans Analizi<\/h2>\n<p>\u015eirketin finansal tablolar\u0131, y\u00fcksek enflasyonun etkilerini yans\u0131tmak amac\u0131yla TMS 29 uyar\u0131nca d\u00fczeltilmi\u015ftir.<\/p>\n<h3>Kar veya Zarar \u00d6zeti (Bin TL)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/td>\n<td>1 Ocak &#8211; 31 Aral\u0131k 2025<\/td>\n<td>1 Ocak &#8211; 31 Aral\u0131k 2024<\/td>\n<\/tr>\n<tr>\n<td><b>Has\u0131lat<\/b><\/td>\n<td>180.444.938<\/td>\n<td>157.339.507<\/td>\n<\/tr>\n<tr>\n<td><b>Br\u00fct K\u00e2r<\/b><\/td>\n<td>57.427.030<\/td>\n<td>49.946.020<\/td>\n<\/tr>\n<tr>\n<td><b>Esas Faaliyet K\u00e2r\u0131<\/b><\/td>\n<td>49.145.855<\/td>\n<td>35.753.980<\/td>\n<\/tr>\n<tr>\n<td><b>Net D\u00f6nem K\u00e2r\u0131<\/b><\/td>\n<td>29.917.727<\/td>\n<td>19.925.321<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Kapsaml\u0131 Gelir<\/b><\/td>\n<td>67.828.476<\/td>\n<td>19.207.511<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3>Finansal Durum \u00d6zeti (Bin TL)<\/h3>\n<table border=\"1\">\n<tbody>\n<tr>\n<td>Kalem<\/td>\n<td>31 Aral\u0131k 2025<\/td>\n<td>31 Aral\u0131k 2024<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam Varl\u0131klar<\/b><\/td>\n<td>431.587.329<\/td>\n<td>317.802.518<\/td>\n<\/tr>\n<tr>\n<td><b>Toplam \u00d6zkaynaklar<\/b><\/td>\n<td>251.786.294<\/td>\n<td>185.027.818<\/td>\n<\/tr>\n<tr>\n<td><b>Nakit ve Nakit Benzerleri<\/b><\/td>\n<td>29.086.476<\/td>\n<td>21.776.847<\/td>\n<\/tr>\n<tr>\n<td><b>Stoklar<\/b><\/td>\n<td>73.660.730<\/td>\n<td>56.901.022<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>3. Kurumsal Yap\u0131 ve Faaliyet Alanlar\u0131<\/h2>\n<p>ASELSAN, T\u00fcrk Silahl\u0131 Kuvvetlerini G\u00fc\u00e7lendirme Vakf\u0131 (TSKGV) ana ortakl\u0131\u011f\u0131nda (%74,20) faaliyetlerini s\u00fcrd\u00fcrmektedir.<\/p>\n<ul>\n<li><b>Personel G\u00fcc\u00fc:<\/b> 2024 y\u0131l\u0131nda 12.014 olan ortalama \u00e7al\u0131\u015fan say\u0131s\u0131, 2025 y\u0131l\u0131nda 14.143&#8217;e y\u00fckselmi\u015ftir.<\/li>\n<li><b>Sekt\u00f6r Ba\u015fkanl\u0131klar\u0131:<\/b> \u015eirket; Haberle\u015fme (HBT), Mikroelektronik (MEOS), Aviyonik (AGS), Savunma Sistemleri (SST), Radar ve Elektronik Harp (REH\u0130S) ve Ula\u015f\u0131m-G\u00fcvenlik-Enerji-Sa\u011fl\u0131k (UGES) olmak \u00fczere alt\u0131 ana sekt\u00f6r ba\u015fkanl\u0131\u011f\u0131 alt\u0131nda organize olmu\u015ftur.<\/li>\n<li><b>\u0130\u015ftirakler ve Ba\u011fl\u0131 Ortakl\u0131klar:<\/b> ASELSANNET, ASELSAN Bak\u00fc, ASELSAN Konya ve B\u0130TES gibi bir\u00e7ok yerli ve yabanc\u0131 ba\u011fl\u0131 ortakl\u0131k ile faaliyet alan\u0131n\u0131 k\u00fcresel \u00f6l\u00e7ekte geni\u015fletmi\u015ftir. 2025 y\u0131l\u0131nda ASELSAN Gaziantep, ASELSAN Muscat ve ASELSAN Filipinler gibi yeni yap\u0131lar gruba dahil olmu\u015ftur.<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>4. Muhasebe Politikalar\u0131 ve Enflasyon D\u00fczeltmesi<\/h2>\n<p>2025 y\u0131l\u0131 finansal tablolar\u0131 \u00fczerinde en belirgin etkiyi TMS 29 &#8220;Y\u00fcksek Enflasyonlu Ekonomilerde Finansal Raporlama&#8221; standard\u0131 olu\u015fturmu\u015ftur.<\/p>\n<ul>\n<li><b>Enflasyon Verileri:<\/b> T\u00dc\u0130K taraf\u0131ndan a\u00e7\u0131klanan t\u00fcketici fiyat endeksi (T\u00dcFE) baz al\u0131nm\u0131\u015f; 31 Aral\u0131k 2025 itibar\u0131yla \u00fc\u00e7 y\u0131ll\u0131k k\u00fcm\u00fclatif enflasyon oran\u0131 %211 olarak ger\u00e7ekle\u015fmi\u015ftir.<\/li>\n<li><b>Parasal Pozisyon Kayb\u0131:<\/b> \u015eirket, net parasal pozisyon \u00fczerinden 13,5 milyar TL tutar\u0131nda bir kay\u0131p kaydetmi\u015ftir. Bu durum, parasal varl\u0131klar\u0131n parasal y\u00fck\u00fcml\u00fcl\u00fcklerden fazla olmas\u0131n\u0131n bir sonucudur.<\/li>\n<li><b>Yeniden De\u011ferleme:<\/b> Maddi duran varl\u0131klar (arsalar) ve kullan\u0131m hakk\u0131 varl\u0131klar\u0131 ger\u00e7e\u011fe uygun de\u011ferleri \u00fczerinden yeniden de\u011ferlenmi\u015f, bu durum \u00f6zkaynaklarda \u00f6nemli bir art\u0131\u015fa neden olmu\u015ftur.<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>5. S\u00fcrd\u00fcr\u00fclebilirlik ve TSRS Uygulamalar\u0131<\/h2>\n<p>ASELSAN, Kamu G\u00f6zetimi Kurumu (KGK) taraf\u0131ndan yay\u0131mlanan T\u00fcrkiye S\u00fcrd\u00fcr\u00fclebilirlik Raporlama Standartlar\u0131&#8217;na (TSRS) uyum sa\u011flayan \u00f6nc\u00fc kurulu\u015flardan biri olmu\u015ftur.<\/p>\n<ul>\n<li><b>TSRS 1 ve 2:<\/b> \u015eirket, s\u00fcrd\u00fcr\u00fclebilirlikle ilgili finansal risklerini ve iklim de\u011fi\u015fikli\u011fi kaynakl\u0131 fiziksel\/ge\u00e7i\u015f risklerini raporlama kapsam\u0131na alm\u0131\u015ft\u0131r.<\/li>\n<li><b>Emisyon \u00d6l\u00e7\u00fcm\u00fc:<\/b> Sera gaz\u0131 emisyonlar\u0131n\u0131n (Kapsam 1, 2 ve 3) \u00f6l\u00e7\u00fcm\u00fc ve raporlanmas\u0131na y\u00f6nelik veri toplama mekanizmalar\u0131 kurulmu\u015ftur.<\/li>\n<li><b>Stratejik Entegrasyon:<\/b> \u0130klimle ilgili riskler stratejik planlama ve kurumsal risk y\u00f6netimi s\u00fcre\u00e7lerine dahil edilmi\u015ftir.<\/li>\n<\/ul>\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8211;<\/p>\n<h2>6. \u00d6nemli Ticari \u0130li\u015fkiler ve Risk Y\u00f6netimi<\/h2>\n<ul>\n<li><b>M\u00fc\u015fteri Portf\u00f6y\u00fc:<\/b> Ticari alacaklar\u0131n b\u00fcy\u00fck bir k\u0131sm\u0131 (%49 civar\u0131) Savunma Sanayii Ba\u015fkanl\u0131\u011f\u0131 (SSB) ve di\u011fer kamu kurulu\u015flar\u0131ndan kaynaklanmaktad\u0131r.<\/li>\n<li><b>\u0130li\u015fkili Taraf \u0130\u015flemleri:<\/b> Grup, ana orta\u011f\u0131 TSKGV&#8217;nin di\u011fer i\u015ftirakleri (TUSA\u015e, ROKETSAN, HAVELSAN vb.) ile yo\u011fun bir ticari ekosistem i\u00e7erisinde faaliyet g\u00f6stermektedir. 2025 y\u0131l\u0131ndaki ili\u015fkili taraf sat\u0131\u015flar\u0131 114,6 milyar TL seviyesindedir.<\/li>\n<li><b>Likidite:<\/b> Nakit ve nakit benzerleri 29 milyar TL seviyesinde olup, vadeli mevduat faizleri TL cinsinden %36,27 &#8211; %40,25 aral\u0131\u011f\u0131ndad\u0131r.<\/li>\n<\/ul>\n<h2>Sonu\u00e7<\/h2>\n<p>ASELSAN, 2025 y\u0131l\u0131nda y\u00fcksek enflasyonist ortama ve karma\u015f\u0131k finansal raporlama gerekliliklerine ra\u011fmen operasyonel ve finansal b\u00fcy\u00fcmesini s\u00fcrd\u00fcrm\u00fc\u015ft\u00fcr. \u015eirketin teknoloji geli\u015ftirme kapasitesi (36,2 milyar TL aktifle\u015ftirilen harcama) ve geni\u015fleyen personel g\u00fcc\u00fc, gelecekteki b\u00fcy\u00fcme potansiyelinin en \u00f6nemli g\u00f6stergeleridir. Finansal tablolar\u0131n denetimden tam not almas\u0131, \u015firketin \u015feffafl\u0131k ve hesap verebilirlik ilkelerine ba\u011fl\u0131l\u0131\u011f\u0131n\u0131 kan\u0131tlamaktad\u0131r.<\/p>\n<button class=\"simplefavorite-button\" data-postid=\"1521\" data-siteid=\"1\" data-groupid=\"1\" data-favoritecount=\"0\" style=\"\">Favorile <i class=<\/button>","protected":false},"excerpt":{"rendered":"<p>ASELSAN 2025 Finansal Sonu\u00e7lar\u0131n\u0131 A\u00e7\u0131klad\u0131: Rekor Has\u0131lat ve Stratejik B\u00fcy\u00fcme!<br \/>\nT\u00fcrkiye\u2019nin savunma sanayi devi ASELSAN, 2025 y\u0131l\u0131na ait finansal raporlar\u0131n\u0131 yay\u0131mlad\u0131. 180 milyar TL\u2019yi a\u015fan has\u0131lat\u0131 ve 29,9 milyar TL net k\u00e2r\u0131 ile dikkat \u00e7eken \u015firket, Ar-Ge yat\u0131r\u0131mlar\u0131 ve ihracat ba\u015far\u0131lar\u0131yla b\u00fcy\u00fcmesini s\u00fcrd\u00fcr\u00fcyor. \u00c7al\u0131\u015fan say\u0131s\u0131n\u0131 14 binin \u00fczerine \u00e7\u0131karan ve raporlama d\u00f6nemi sonras\u0131nda 521 milyon dolarl\u0131k yeni s\u00f6zle\u015fmeye imza atan ASELSAN&#8217;\u0131n g\u00fcncel mali tablosu, varl\u0131k yap\u0131s\u0131 ve gelecek vizyonuna dair t\u00fcm kritik veriler blog yaz\u0131m\u0131zda!<\/p>\n","protected":false},"author":5,"featured_media":970,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[27],"class_list":["post-1521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bilancoanalizi","tag-asels"],"_links":{"self":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/comments?post=1521"}],"version-history":[{"count":4,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1521\/revisions"}],"predecessor-version":[{"id":1535,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/posts\/1521\/revisions\/1535"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media\/970"}],"wp:attachment":[{"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/media?parent=1521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/categories?post=1521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabildot.com.tr\/marketrisk\/wp-json\/wp\/v2\/tags?post=1521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}